XAPM215 - Project Risk Management
Delivery: Online, On Campus
Available: 2004 - 2016
Project Risk Management begins with an exercise that explores the challenges of planning for and managing project risk in today's complex, ever-changing business environment. It continues with the four critical building blocks for understanding and managing uncertainty probability distributions. Simple examples are presented in the context of Project Management.
The risk of organizational failure in projects can now be predicted and mitigated using ideas and tools developed at Stanford over the past 16 years. We introduce the "Virtual Design Team" approach to modeling the information processing requirements of a fast-track project and assessing the information processing capacity of your project organization, so you can proactively anticipate these organizational risks and intervene to mitigate them.
We continue by introducing a process for assessing and planning for risk. You'll examine a process that allows you to identify risk management considerations, assess the severity and consequences of a given risk and its overall threat to your project or program, and explore options and trade-offs for managing the risk.
We also examine several case studies where missed opportunities to plan and/or effectively manage risk led to monumental consequences, and conclude with a discussion on whether your management system enables the organization to do the right things to facilitate the successful achievement of its business objectives.